The SDLP has called for the establishment of a new body to explore the devolution of further fiscal powers to Stormont.

In a submission to the debate on the programme for government, which is expected to be agreed by the end of the year, the party said the need to map out a route for increased responsibilities was "critical" after the UK's decision to leave the EU.

SDLP Belfast South MLA Claire Hanna, who is vice-chair of the Assembly's Finance Committee, added: "In the wake of the EU referendum result and the economic nosedive that followed, it's never been more critical that we explore all the options for the devolution of new fiscal powers to Stormont.

"The long and the short of it is that London comes first for the Treasury, so the time is now right for Northern Ireland to take greater control of its own economic destiny."